Miami s population is 6.2M, with a total workforce of 2.7M. The labor market grew by 61,100 jobs over the past year, up by 2.3%. The median household income in Miami is $57,128, 5.2% higher than last year and 6.9% below the national average of $61,372. In the housing market, total permits issued totaled 19,579 over the last twelve months, down 1.0% year-over-year. Miami has 307 active new home projects on the market, 1.6% fewer than the 312 from last year. The average list price in the market is $602,144, 11.3% higher than last year and 94.4% above the national average. Over the last three months, new home contracts decreased by 17.4% to 1,538. Miami and Homestead had the highest concentration of the new home contracts in the Miami market.